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GCap Media streamlines regional radio in big shake-up

GCAP MEDIA, Britain’s biggest commercial-radio group, is preparing to announce a wholesale reorganisation of its business that will include the sale of several local stations and a large investment in Capital 95.8FM.

The company, which in recent weeks has been under intense scrutiny from private-equity suitors, will unveil the changes at its interim results on November 24.

Ralph Bernard, GCap’s chief executive, will announce that the company is axing several of its brands, including the digital radio network Storm, in order to focus on its most important stations, including Classic FM, XFM and Capital FM.

It will also say that it is disposing of some of its regional radio assets, which include Essex FM, Trent FM and Plymouth Sound. Potential buyers include Macquarie and The Local Radio Company.

Bernard is also expected to confirm that GCap will press ahead with plans to seek a judicial review of a decision by